Silver 'busting a gut' to top $30 an ounce
The silver market has been an interesting ride as of late. We have seen a $10 increase to the spot price since August. Silver's lucky fingers have been reaching toward the big 30. "Will it ever make it?" silver bugs ask. "Or is this just the beginning for silver?"
Over the past two weeks silver has been floating just below $30 a Troy ounce. Investors are hoping it can make the final squeeze to 30. This would make the 4 month progress a whopping $12!
Gold is at its all-time high. Precious metal gurus are predicting a $2,000 ounce by 2012. Silver being the younger brother and from past experience, will follow suit and should have the stamina to beat its own record.
Silver riding high
Silver has had an interesting 6 months. Just recently, JP Morgan and HSBC have consulted their lawyers over accusations of manipulation to silver futures. The Worldwide economy continues on a downward spiral, all to silvers advantage. Predictions have been made to see an all time high for silver. Could we really see a repeat of the 1980 $50 spot price? Some say this is entirely possible.
One thing we do know for a fact, 2011 will be one hell of a ride for the silver market.